Q3 2026: GTCO Delivers N879.9bn Pre-Tax Profit
Guaranty Trust Holding Company Plc (“GTCO” or “the Group”) has released its Unaudited Consolidated and Separate Financial Statements as of September 30, 2026, to the Nigerian Exchange Group (NGX) and London Stock Exchange (LSE).
The Group posted a Profit Before Tax of ₦879.9 billion, driven by sustained growth across its core earnings lines, with interest income, fees and commission income and trading income growing year-on-year by 5.0%, 1.4% and 3.1% respectively. This resilient performance was delivered despite a ₦87.9 billion fair value loss recognised in the period, with PBT moderating slightly by 2.3% from ₦900.8 billion in Q3 2025.
The Group’s Total Assets grew by 3.5% to ₦18.37 trillion (December 2025: ₦17.76 trillion), while Shareholders’ Funds closed at ₦3.5 trillion. Capital Adequacy Ratio (CAR) remained very strong at 34.2% (Bank: 33.9%), and asset quality improved, with IFRS 9 Stage 3 Loans closing at 4.0% at Group level (FY 2025: 5.0%) and 3.4% at Bank level (FY 2025: 3.4%). Cost of Risk (COR) also improved to 0.9% from 2.2% over the same period, while coverage for credit-impaired loans closed at 130.7% (FY 2025: 106.9%).
Deposit liabilities grew by 8.6% from ₦12.87 trillion in December 2025 to ₦13.98 trillion in September 2026, reflecting the continued strength of the Group’s deposit franchise, while the net loan book moderated by 4.1% to ₦3.00 trillion, in line with the Group’s disciplined approach to risk asset creation. Earnings quality also improved, with funded income rising to 77.8% of gross earnings and net core earnings growing by 4.4% to ₦1.505 trillion, while Profit After Tax closed at ₦614.6 billion (Q3 2025: ₦699.6 billion), reflecting changes to Companies Income Tax regulation which affected capital allowance reliefs.
The Group continues to maintain a well-structured, healthy, liquid and diversified balance sheet across all the jurisdictions where it operates a banking franchise, as well as across its Payments, Pension and Funds Management businesses.
Commenting on the results, the Group Chief Executive Officer of Guaranty Trust Holding Company Plc Mr. Segun Agbaje, said: “Our performance in the Q3 reflects the strength of a franchise built on scale, efficiency and discipline. Despite a challenging operating environment and significant fair value losses in the period, our core earnings continued to grow, our deposit base expanded strongly, our cost efficiency remains among the best in the industry, and our balance sheet remains strong, liquid and well capitalised. Looking ahead, we will always optimise risk-free returns wherever we see them and will always be positioned to take advantage of arbitrage opportunities as market conditions evolve, without compromising the quality of our risk assets. We will also continue to evolve our platforms and adapt to new technologies to meet the changing needs of our customers, as we remain focused on delivering sustainable value and superior returns to our shareholders.”
Overall, the Group continues to post some of the best metrics in the Nigerian Financial Services Industry, with a Pre-Tax Return on Average Equity (ROAE) of 34.0%, Pre-Tax Return on Average Assets (ROAA) of 6.5%, Capital Adequacy Ratio (CAR) of 34.2% and Cost-to-Income Ratio of 31.2%.
